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China Earthquake Aftermath
Following the China Earthquake that rocked the southwestern part of the country, we find a series of announcements from a few SGX listed companies that have business operations in China. Most of them were a reassurance to investors that their businesses were not affected.
Here’s a short summary (as of today):
Oceanus Group Limited
No effect.
CapitalRetailChinaTrust (CRCT)
None of their malls were affected and they are operating as normal.
Memstar Technology
No casualties and visible damage to the new plant under construction at Mianyang. There were some surface damage to the office and dormitory buildings. Construction activities have been put on hold as ordered by the local authorities.
Production capacity of the factory at Guangzhou is operating as normal.
Devotion Energy Group Limited
The Group’s businesses and operations are not affected by the earthquake in Sichuan province, PRC as the Group’s office and factory located at Guangdong province is a distance away from Sichuan province.
Synear Food Holdings Limited
No injuries to staff and material damage to production plant in Chengdu. Plant has been shut as a precaution. Most of their distributors were unhurt and were minimally affected. However, 8 of their distributors in the worst hit areas can’t be contacted due to communication disruptions.
The region contributed less than 1% of revenue for FY2007. Therefore, there should not be any material impact to the current year’s financials.
RMB1 million has been donated to the Red Cross of China.
HI-P International Limited
Small facility in Chengdu not affected. However, it has to be shut down due to power disruption issues. This will have a small impact on operations.
Centraland Limited
It’s two current development projects, Guoling ShanShui and J-Expo, are located nearly 1050 kilometres away from the epicenter of the earthquake. Therefore, the group’s operation are not affected by the earthquake.
China XLX Fertilizer Limited
The Group’s plants and operations in Henan were not affected by the earthquake that occurred in Sichuan yesterday. Henan is located more than 1,000 km away from Sichuan. There is also no impact on their procurement of raw materials. They currently have sufficient coal supplies in stock. They are located close to the coal mines in Shanxi and there were no reports of disruption in the supply lines. There is also no impact on sales as they have no sales to Sichuan province.
Luzhou Bio-Chem Techonology Limited
No damage to the plant in Sichuan and no staff were injured. It has been currently shut down as a precaution.
Asia Power Corporation Limited
The operations of its power plants have not been affected by the earthquake and all of its staff and personnel are safe.
To date, production is still running smoothly at the power plants as all of them are located far away from the epicentre of the earthquake. The Company does not expect any significant damage or disruption to be caused to its operations due to this earthquake.
Sino-Environment Technology Group Limited
No effect on the group’s operations.
Pharmesis International Limited
All operations remain normal.
Interestingly, there has yet to be any announcements by the many other companies with operations in China.